Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
EV Energy Partners Touts $125MM Increase to Borrowing Base
Print
|
EV Energy Partners, L.P. has entered into an amendment to its senior secured credit facility that, among other things, increases the borrowing base from $500 million to $625 million. Additionally, EVEP's debt to EBITDAX ratio covenants were amended as follows:
Senior Secured Funded Debt to EBITDAX ≤ 3.00x through the quarter ending December 31, 2016 Total Debt to EBITDAX ≤ 5.50x for the quarters ending March 31 and June 30, 2017 Total Debt to EBITDAX ≤ 5.25x for the quarters ending September 30 and December 31, 2017 Total Debt to EBITDAX ≤ 4.25x for the quarter ending March 31, 2018 and thereafterThe next scheduled borrowing base redetermination is April 2016.
Michael Mercer, President and Chief Executive Officer, said: "Given the volatility in commodity markets and the uncertainty…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Fundraising News
Large Private Equity Firm Looking to Raise $8 Billion Fund
The company is looking to take advantage of the current environment. This PE firm already has major investements in E&Ps focused on the Eagle ford, Permian and Rockies…
DJ Basin Operator 2017 Capex Jumps 94% to $300 Million; 80 Wells Planned
NE Wattenberg operator Bill Barrett today unveiled its 2017 capital and drilling plans. Here is a quick read. Production will be increased +1% while capEx will be more…
Exclusive : Bankrupt E&P Scores $240 Million To Fund Operations
According to court documents, bankrupt Triangle Petroleum has received court approval to enter into a new $250 MM credit facility with JP Morgan Chase once the company exits…
New Capital: 37 Private New E&P Companies Scored Over $5.8B in 2016; Here Is Where They Plan to Spend it
In 2016, numerous private E&Ps scored fresh capital from private equity firms that totaled approximately $5.757 billion (excluding undisclosed investments).
Howard Midstream Lands Funding for South TX Pipeline Project
Howard Midstream Energy Partners reported that its subsidiary, Nueva Era Pipeline, has closed on $353.3 million in project financing for the construction of the Nueva Era pipeline project.
North America News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…
Baytex 2026 Development Plans
Baytex’s 2026 development plan reflects a post–Eagle Ford sale capital program and a sharpened focus on its core Canadian assets. The Company approved 2026 exploration and development expenditures…
Tourmaline: 2026 Capital Program Locked In at $2.9B
Tourmaline’s 2026 exploration and production (EP) program is set at $2.9 billion and targets average production of 690,000–710,000 boepd, with the company maintaining the multi-year EP Plan released…